Daily News
From Home Furnishing Business
Man Wah Buys 50% Stake in European Upholstery Producer
August 7,
2017 by Larry Thomas in Business Strategy, Industry 
Man Wah Holdings, a Chinese upholstery and mattress producer, has acquired a 50% stake in European upholstery producer Home Group and its Fleming brand.
Fleming products are widely distributed in Europe – including prominent retailers such as Ikea, Steinhoff and XXXLutz -- and Man Wah plans to introduce the furniture to the North American market at the High Point Market in October.
“Given the fast-changing demand in the Europe, China and North America markets, the strategic alliance with Home Group will create synergies across product development, sourcing, manufacturing and sales,” said Wong Man Li, chairman of Man Wah.
Terms of the transaction were not disclosed.
Man Wah officials said Fleming products are distinguished by their Scandinavian-influenced designs and innovative features. They are produced at five factories in Poland, the Ukraine and the Baltic States.
“We look forward to launching the Fleming Brand and product assortment to the North American Market,” said Guy Ray, CEO of Man Wah USA. “This European collection of high quality and affordable products will appeal to the young consumer, filling a major void in the market place.”
He said North American retailers understand the need for a global brand with European design and scale. Bringing this brand to North America will create that needed solution to attract the Urban-living younger consumer, he explained.
The new products can be seen in Man Wah’s newly expanded High Point showroom in Furniture Plaza, space 412.